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    2649 N Beachwood Drive

    Los Angeles, CA 90068
    • $2,175,000
    • STATUS: ACTIVE
    • ON SITE: 96 days
    • ID#: 302941954
    UPDATED: 60 min ago
    $2,175,000
    • 7
      BEDS
    • 0.14
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    First time on the market in over 50 years. This is a generational real estate buying opportunity to own one of the most iconic properties on Beachwood Drive. Add this to your portfolio now before this opportunity is gone. This could be a once in a lifetime opportunity for the prepared investor as these types of properties are not available very often. Situated below the "HOLLYWOOD" sign this building sits on the most premier lot on Beachwood Drive. This 6 unit apartment consists of (4) 2 bed / 1 bath and First time on the market in over 50 years. This is a generational real estate buying opportunity to own one of the most iconic properties on Beachwood Drive. Add this to your portfolio now before this opportunity is gone. This could be a once in a lifetime opportunity for the prepared investor as these types of properties are not available very often. Situated below the "HOLLYWOOD" sign this building sits on the most premier lot on Beachwood Drive. This 6 unit apartment consists of (4) 2 bed / 1 bath and (2) 1 bed / 1 bath units. This property is great for any investor looking for a stabilized, cash-flowing asset to add to their portfolio or for a long term hold with unlimited appreciation potential. Current ownership completed the soft story retrofit in 2019. Interior and exterior have been continually upgraded and maintained. The property is 100% leased providing annual gross scheduled income of $123,600. Two of the units are leased at market rates. Three units are slightly below market while the 6th is rented below market to a long term tenant. These units are almost never vacated and fill up within days when available. All the tenants all up to date on rents. The property is separately metered for electricity and gas has separate water heaters for each unit. It is master metered for water. Each unit has its own off-street parking space. Located at the north end of Beachwood Drive, just a short walking distance to shopping and dining.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sandiegoareahomesforsale.co/homes/110899865
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    2649 N Beachwood Drive Los Angeles, CA 90068

    • Price: $2,175,000
    • Status: ACTIVE
    • Updated: 60 min ago
    • ID#: 302941954
    7
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    1957
    Built
    Neighborhood:
    Hollywood/Beachwood Canyon
    County:
    Los Angeles
    Area:
    Los Angeles (90068)
    Property Description
    First time on the market in over 50 years. This is a generational real estate buying opportunity to own one of the most iconic properties on Beachwood Drive. Add this to your portfolio now before this opportunity is gone. This could be a once in a lifetime opportunity for the prepared investor as these types of properties are not available very often. Situated below the "HOLLYWOOD" sign this building sits on the most premier lot on Beachwood Drive. This 6 unit apartment consists of (4) 2 bed / 1 bath and First time on the market in over 50 years. This is a generational real estate buying opportunity to own one of the most iconic properties on Beachwood Drive. Add this to your portfolio now before this opportunity is gone. This could be a once in a lifetime opportunity for the prepared investor as these types of properties are not available very often. Situated below the "HOLLYWOOD" sign this building sits on the most premier lot on Beachwood Drive. This 6 unit apartment consists of (4) 2 bed / 1 bath and (2) 1 bed / 1 bath units. This property is great for any investor looking for a stabilized, cash-flowing asset to add to their portfolio or for a long term hold with unlimited appreciation potential. Current ownership completed the soft story retrofit in 2019. Interior and exterior have been continually upgraded and maintained. The property is 100% leased providing annual gross scheduled income of $123,600. Two of the units are leased at market rates. Three units are slightly below market while the 6th is rented below market to a long term tenant. These units are almost never vacated and fill up within days when available. All the tenants all up to date on rents. The property is separately metered for electricity and gas has separate water heaters for each unit. It is master metered for water. Each unit has its own off-street parking space. Located at the north end of Beachwood Drive, just a short walking distance to shopping and dining.
    Exterior Features

    Pool N/K Site Corner Lot Units With Patios 2

    Interior Features

    Cooling Wall/Window Stories 2 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Units With Cooling 6 Units With Range Oven 6 Units With Refrigerators 6

    Property Features

    Actual Cap Rate 3.34 Annual Expense Actual 45875 Buildings 1 Gross Rent Multiplier Actual 19.01 Gross Scheduled Income Actual 123600 Tenant Pays ElectricityGas/Propane Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit Number4 4 Unit1 Rent Actual 2500.0 Unit2 Rent Actual 1300.0 Unit3 Rent Actual 2540.0 Unit4 Rent Actual 1630.0 Zoning Assessor

    Listing provided courtesy of First Team Real Estate. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Steven G. Fraioli & Associates
    13176 Midbluff Ave
    San Diego CA, 92128